Fairway Energy (07) Flow-Through Limited Partnership

Fairway Energy (07) Flow-Through Limited Partnership

January 10, 2007 10:30 ET

Fairway Energy '07' Flow-Through Limited Partnership: Initial Public Offering-Maximum $75,000,000

TORONTO, ONTARIO--(CCNMatthews - Jan. 10, 2007) - Fairway Energy (07) Flow-Through Limited Partnership is pleased to announce that it has filed a preliminary prospectus in each of the provinces and territories of Canada, relating to the initial public offering of Units of the Partnership.

Partnership Objectives. The Partnership will provide Limited Partners with a tax-assisted investment in a diversified portfolio of Flow-Through Shares of Resource Companies with a view to achieving capital appreciation for Limited Partners. The principal business of the Resource Companies will be oil and gas exploration, development and/or production.

The Syndicate. The syndicate of agents for the offering is being led by CIBC World Markets Inc. and includes Scotia Capital Inc., Canaccord Capital Corporation, Dundee Securities Corporation, Wellington West Capital Inc., Berkshire Securities Inc., Blackmont Capital Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Saunders Wealth Management Group Ltd., MGI Securities Inc., IPC Securities Corporation, Bieber Securities Inc., and Rothenburg Capital Management Inc..

Tax Benefits. Investors will be able to receive tax deductions for 2007 of approximately 100% of the amount of their investment based on completion of the maximum offering and certain other exemptions as set forth in the Preliminary Prospectus.

Investment Guidelines. The Partnership has developed certain investment guidelines which govern the Partnership's overall investment activities. These investment guidelines provide, among other things, that the Partnership will invest pursuant to the following policies and restrictions:

Investment Restrictions
Type of Investment (% of NAV upon investment)
Resource Companies listed on a stock exchange At least 80%

Resource Companies listed and posted for trading on
the TSX, NYSE, AMEX or the Nasdaq National Market At least 50%

Illiquid Investment (including securities of
Resource Companies that are not publicly traded) Up to 20%

Investment in any one Resource Company Up to 20%

Investment in Related Entities Up to 10%

In addition, the Investment Portfolio will be managed, at all times, in such a way as to preserve the ability to undertake a future Liquidity Event, such as a rollover into a mutual fund corporation.

Offering Jurisdictions. Each of the provinces and territories of Canada.

Investment Manager. Jove Investment Management Inc. ("Jove") is a wholly-owned individual subsidiary of Jovian Capital Corporation ("Jovian") and has been retained by the General Partner as Investment Manager to provide investment advisory and portfolio management services to the Partnership. Jove provides management and fund management services for funds, managed accounts and high net-worth individuals. Mr. Peter Linder will manage the Partnership's investment portfolio on behalf of Jove.

Jovian is a publicly traded company listed on the TSX Venture Exchange (JVN). Jovian is a holding and management company with interests in a variety of financial service firms specializing in wealth and asset management. The Jovian group of companies operates as a national financial services organization with approximately $12.3 billion of client assets. The Jovian group of companies provide wealth accumulation, asset protection and service solutions under a number of consumer brands. Jovian provides overall structure, strategic direction and management oversight, as well as economies of scale to each of its related companies.

A preliminary prospectus relating to these securities has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada, but has not yet become final for the purpose of distribution to the public. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in each of the provinces and territories of Canada prior to the time a receipt for the final prospectus or other authorization is obtained from the securities commission or similar authority in any such province or territory.

Contact Information

  • Fairway Energy Flow-Through Management Corp.
    Hugh Cartwright
    (604) 684-5750 or 1-866-688-5750
    Website: www.fairwayenergy.ca